Compare Chevy Corvette Insurance Quotes in Scottsdale

Insurance for Chevy CorvetteIt’s safe to assume that insurance companies don’t want their policyholders to compare prices. Insureds who shop for lower rates will probably switch car insurance companies because there are good odds of finding a lower-cost company. A study showed that drivers who compared rates annually saved on average $72 a month compared to people who never compared rates.

If finding the cheapest rates on Chevy Corvette insurance in Scottsdale is your ultimate goal, then having some insight into how to quote prices and compare insurance coverage can help make the process easier and more efficient.

If you want to find the absolute lowest rates, then the best way to get budget car insurance rates in Scottsdale is to compare prices once a year from companies in Arizona.

Step 1: Try to comprehend how insurance companies determine prices and the measures you can take to prevent rate increases. Many policy risk factors that cause high rates such as speeding tickets, accidents and a bad credit score can be amended by making lifestyle changes or driving safer.

Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give prices from a single company like GEICO or State Farm, while independent agencies can provide price quotes from many different companies.

Step 3: Compare the price quotes to the price on your current policy to see if cheaper Corvette coverage is available. If you can save money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

The key thing to know about shopping around is to make sure you’re comparing similar deductibles and liability limits on every price quote and and to get rate quotes from as many different companies as possible. This ensures the most accurate price comparison and the best price selection.

Keep in mind that having more price comparisons helps locate a lower rate than you’re paying now. Some smaller insurers do not give Scottsdale Corvette insurance quotes online, so it’s recommended that you also compare rates from them as well.

The auto insurance companies shown below provide free rate quotes in Arizona. To get cheap car insurance in Scottsdale, AZ, we recommend you compare several of them to find the lowest auto insurance rates.

Rates and other information

The rate table displayed next highlights different insurance coverage prices for Chevy Corvette models. Knowing how auto insurance premiums are established can help customers make informed decisions.

Chevrolet Corvette Insurance Rates in Scottsdale, AZ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $290 $594 $268 $16 $80 $1,248 $104
Corvette GS 2-Dr Coupe $344 $664 $268 $16 $80 $1,372 $114
Corvette 2-Dr Convertible $344 $664 $344 $20 $102 $1,474 $123
Corvette GS 2-Dr Convertible $370 $732 $344 $20 $102 $1,568 $131
Corvette Z06 2-Dr Coupe $370 $732 $268 $16 $80 $1,466 $122
Corvette ZR1 2-Dr Coupe $478 $1008 $268 $16 $80 $1,850 $154
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Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Prices do not factor in vehicle location which can increase or decrease coverage rates substantially.

Should you raise deductibles?

A question often asked by Scottsdale drivers is the level to set your comp and collision deductibles. The following insurance rates can help illustrate the differences in premium rates between low and high insurance deductibles. The first data table uses a $100 comprehensive and collision deductible and the second rate chart uses a $1,000 deductible.

Chevrolet Corvette insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $358 $716 $198 $12 $60 $1,369 $114
Corvette GS 2-Dr Coupe $424 $798 $198 $12 $60 $1,517 $126
Corvette 2-Dr Convertible $424 $798 $254 $16 $76 $1,593 $133
Corvette GS 2-Dr Convertible $458 $882 $254 $16 $76 $1,711 $143
Corvette Z06 2-Dr Coupe $458 $882 $198 $12 $60 $1,635 $136
Corvette ZR1 2-Dr Coupe $590 $1214 $198 $12 $60 $2,099 $175
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Chevrolet Corvette insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Corvette 2-Dr Coupe $198 $376 $198 $12 $60 $844 $70
Corvette GS 2-Dr Coupe $236 $420 $198 $12 $60 $926 $77
Corvette 2-Dr Convertible $236 $420 $254 $16 $76 $1,002 $84
Corvette GS 2-Dr Convertible $254 $464 $254 $16 $76 $1,064 $89
Corvette Z06 2-Dr Coupe $254 $464 $198 $12 $60 $988 $82
Corvette ZR1 2-Dr Coupe $328 $640 $198 $12 $60 $1,238 $103
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Arizona minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Estimates do not factor in specific location information which can affect price quotes significantly.

Based on these figures, using a $100 deductible costs roughly $54 more each month or $648 for a full year than opting for the higher $1,000 deductible. Since you would pay $900 more to file a claim with a $1,000 deductible as compared to a $100 deductible, if you tend to have at least 17 months between claims, you would save more money by going with a higher deductible.

Violations and accidents raise rates

The diagram below demonstrates how citations and at-fault collisions increase Chevy Corvette premium costs for different age categories. The costs are based on a single male driver, full physical damage coverage, $100 deductibles, and no discounts are applied to the premium.

Chevrolet Corvette insurance rates by gender in Scottsdale

The information below shows the difference between Chevy Corvette car insurance rates for male and female drivers. The rate quotes are based on no claims or violations, full coverage, $500 deductibles, drivers are single, and no other discounts are factored in.

Does it make sense to buy full coverage?

The information below shows the difference between Chevy Corvette insurance prices with full physical damage coverage and with liability coverage only. The data assumes no violations or claims, $100 deductibles, drivers are not married, and no discounts are taken into consideration.

Are you wasting money on full coverage?

There is no definitive guideline for dropping physical damage insurance, but there is a general guideline you can use. If the yearly cost of full coverage is more than around 10% of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let’s say your Chevy Corvette book value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most you would get paid by your company is $4,000 after the policy deductible has been paid. If you are paying over $400 annually to have full coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where buying only liability insurance is not recommended. If you still owe a portion of the original loan, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not opt for liability only.

Insurance Price Influencing Factors

Multiple criteria are taken into consideration when you quote your car insurance policy. Most are fairly basic like your driving record, but others are more obscure like where you live and annual miles driven. It’s important that you understand some of the things that help determine your premiums. If you understand what controls the rates you pay, this enables informed choices that could help you find cheaper rates.

Better prices on cars with good safety ratings – Vehicles with high crash test scores tend to have lower insurance rates. Highly rated vehicles result in less severe injuries and any reduction in injury severity translates into savings for insurance companies and more competitive rates for policyholders. If the Chevy Corvette has at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.

Annual mileage and car insurance premiums – The higher the miles on your Chevy in a year the more you will pay for car insurance. The majority of insurers apply a rate determined by how the vehicle is used. Vehicles that do not get driven very much can be on a lower rate level than those used for commuting. An improperly rated Corvette may be costing you higher rates. It’s a good idea to make sure your car insurance policy is rated on the correct usage, because improper ratings can cost you money.

Low stress vocation equals lower premiums – Careers such as military personnel, executives, and accountants tend to have higher premium rates due to job stress and long work days. On the flip side, careers like farmers, historians and homemakers have the lowest average rates.

Get better rates if married – Having a wife or husband can get you a discount on car insurance. Marriage may mean you are more mature it has been statistically shown that married drivers get in fewer accidents.

Your age impacts your prices – Youthful drivers in Arizona are known to be inattentive and easily distracted with other occupants in the car and because of this, their car insurance rates are much higher. Older insureds are viewed as being more responsible, statistically cause fewer accidents, and are generally more financially stable.

The following chart uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.

Extra coverages that aren’t used – Policies have optional add-on coverages that can add up if you aren’t careful. Things like replacement cost coverage, high-cost glass coverage, and motor club memberships are examples of these. They may seem good when discussing your needs, but your needs may have changed so eliminate the coverages to reduce your premium.

High credit scores save money – Credit rating is likely to be a major factor in calculating your car insurance rates. Insureds that have excellent credit tend to be more responsible than those with bad credit. Therefore, if your credit score leaves room for improvement, you could be paying less to insure your Chevrolet Corvette by repairing your credit.

Insurance losses for a Chevy Corvette – Insurance companies use data from past claims when they file their rates in each state. Models that have higher loss trends will cost more to insure. The next table shows the insurance loss data used by companies for Chevy Corvette vehicles.

For each policy coverage type, the loss probability for all vehicles compiled together is a value of 100. Numbers under 100 are indicative of better than average losses, while values that are above 100 indicate more frequent claims or tendency to have larger claims.

Chevrolet Corvette Insurance Claim Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Corvette 2dr 116 36 101 42 48 39
Chevrolet Corvette Convertible 99 25 57 36
Chevrolet Corvette Z06 2dr 176 126

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Best reasons to buy insurance in Arizona

Despite the fact that insurance is not cheap in Scottsdale, insuring your vehicle is required in Arizona but also provides important benefits.

First, most states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability protection if you want to drive legally. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if your car has a lienholder, almost all lenders will make it mandatory that you buy insurance to guarantee payment of the loan. If you default on your policy, the bank or lender will purchase a policy for your Chevy at a much higher rate and force you to pay the higher premium.

Third, insurance preserves both your assets and your Chevy. Insurance will also pay for medical bills for you, any passengers, and anyone injured in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense in the event you are sued. If damage is caused by hail or an accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.

The benefits of insuring your car definitely exceed the cost, particularly for liability claims. As of last year, the average driver in Arizona is overpaying more than $869 every year so compare rate quotes each time the policy renews to help ensure money is not being wasted.